Jun 20, 2013 2:30am PDT
. economy. but that sent markets tumbling. cnbc's andrew ross sorkin, my friend. >> hey, my man. how are you? >> i'm doing well. >> great to see you. >> congratulations, by the way. i'm probably two or three weeks late here, but it's -- it's been probably more than that but marv tlous watch you every morning. >> i know you miss me. we need to know why the stock market tumbles so strongly when mr. bernanke says we might stop something in the future but nothing is happening right now. >> because we've indicated for the first real time that we are taking the drugs away from the patient. that's what's happened here. this is all about whether we can handle it. it's sort of -- it's kind of like antibiotics. you are supposed to take them to a certain point and then stop taking them before they finally kick in and start to work. it's hard to gauge when you are supposed to stop with the medicine. and that's really the question right now. the market clearly feels that the economy isn't out of the woods yet and the economy has been really quite dependent on the fed. we will see, but right now that'
Jun 21, 2013 2:30am PDT
up the economy and stock market or can it fly on its own? that what we'll wait and see. if i'm a retail investor with a 401(k), hold tight, see what happens. it will be volatile for weeks, probably months at this point while the fed figures out how to get the stimulus out. ultimately, it will shake out to a normalized level. the underlying economy is good so i'd freak out a little bit, but ultimately just wait. >> we want to have the economy stand on its own two feet, but that's the thing here. 401(k) investors, they're not active traders, and the people trading here are probably booking profits from this huge run-up we've had. >> yeah. what it is is a very professional market right now, and you've got traders who love volatility, cashing in on this. we had a pretty tepid market for a while, wasn't a lot of daily motion, and then the fed said we're going to pull out stimulus and you've got big swings up and down. we could pop back up today, so this is a professional trader's market, not for the amateur, mom-and-pop investor. best thing is to wait it out at this point. if you're r